DUBLIN--(BUSINESS WIRE)--The "Behavioral Biometrics Market by Component, Application (Identity & Access Management, Risk & Compliance Management, Fraud Detection & Prevention management), Deployment Model, Organization Size & Vertical - Global forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global behavioral biometrics market size is expected to grow from USD 871.2 million in 2018 to USD 2,552.7 million by 2023, at a Compound Annual Growth Rate (CAGR) of 24.0% during the forecast period.
Major growth drivers for the market are a rapid increase in online transactions and online fraudulent activities, and an increasing need for multi-layered security approach in the BFSI industry are expected to drive the behavioral biometrics market. However, higher installation cost of behavioral biometrics software, and lack of competent behavioral biometrics experts could be major challenges for the behavioral biometrics market growth.
Organizations are rapidly deploying behavioral biometric solutions, either on-premises or the cloud. The demand for cloud-based behavioral biometrics solutions is increasing due to cost-effective and time-efficient features of cloud. Hence, SMEs would prefer to deploy behavioral biometrics solutions on the cloud.
The behavioral biometrics market growth in Asia Pacific (APAC) is gaining momentum and is expected to record the highest growth rate during the forecast period. Vendors in the region have been adopting venture funding strategies and are investing in R&D activities in an effort to provide technologically advanced tag management solutions. In addition, major economies in APAC, such as China, India, Australia, and New Zealand, are investing in emerging technologies to implement innovation in the traditional business processes and enhance the performance. The region witnesses an increased adoption rate of such solutions across major industry verticals.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview and Industry Trends
6 Behavioral Biometrics Market, By Component
7 Behavioral Biometrics Market, By Application
8 Market By Organization Size
9 Behavioral Biometrics Market, By Deployment Model
10 Market By Vertical
11 Behavioral Biometrics Market, By Region
12 Competitive Landscape
13 Company Profiles
- Nuance Communications
- One Identity
- FST Biometrics
- ID Finance
- Pinn Technologies
For more information about this report visit https://www.researchandmarkets.com/research/whlpcd/behavioral?w=4